Plains All American Pipeline, L.P. (NYSE:PAA) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC trimmed its position in shares of Plains All American Pipeline, L.P. (NYSE:PAA) by 17.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,768,057 shares of the pipeline company’s stock after selling 372,931 shares during the period. Pathstone Holdings LLC owned 0.25% of Plains All American Pipeline worth $30,198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. ING Groep NV lifted its position in Plains All American Pipeline by 194.5% during the 4th quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock worth $66,486,000 after acquiring an additional 2,570,700 shares during the last quarter. Barclays PLC grew its stake in Plains All American Pipeline by 110.4% during the fourth quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company’s stock worth $72,186,000 after buying an additional 2,218,014 shares during the last quarter. Invesco Ltd. grew its stake in Plains All American Pipeline by 4.6% during the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock worth $475,301,000 after buying an additional 1,224,381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Plains All American Pipeline by 8.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock valued at $261,283,000 after acquiring an additional 1,211,286 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in Plains All American Pipeline by 30.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company’s stock valued at $92,470,000 after buying an additional 1,162,933 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $17.58 on Wednesday. The business’s 50 day moving average price is $18.25 and its 200 day moving average price is $18.43. The firm has a market cap of $12.37 billion, a P/E ratio of 24.08 and a beta of 0.70. Plains All American Pipeline, L.P. has a 52 week low of $15.58 and a 52 week high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. During the same period last year, the company earned $0.41 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, sell-side analysts expect that Plains All American Pipeline, L.P. will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.65%. The ex-dividend date is Thursday, May 1st. Plains All American Pipeline’s dividend payout ratio is currently 163.44%.

Analyst Upgrades and Downgrades

PAA has been the subject of several research reports. Raymond James reissued a “strong-buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Scotiabank dropped their price objective on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Monday. Citigroup dropped their target price on shares of Plains All American Pipeline from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, May 9th. Finally, StockNews.com cut shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.40.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.